NN Investment Partners Holdings N.V. Has $1.29 Million Position in Barnes Group, Inc. (NYSE:B)
NN Investment Partners Holdings N.V. raised its stake in shares of Barnes Group, Inc. (NYSE:B) by 8.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 21,955 shares of the industrial products company’s stock after buying an additional 1,665 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Barnes Group were worth $1,285,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Fruth Investment Management acquired a new position in Barnes Group during the first quarter valued at about $205,000. Teacher Retirement System of Texas acquired a new position in Barnes Group during the first quarter valued at about $209,000. Verity Asset Management Inc. acquired a new position in Barnes Group during the first quarter valued at about $215,000. Dubuque Bank & Trust Co. acquired a new position in Barnes Group during the first quarter valued at about $216,000. Finally, Miles Capital Inc. boosted its position in Barnes Group by 1.7% in the first quarter. Miles Capital Inc. now owns 4,389 shares of the industrial products company’s stock valued at $225,000 after buying an additional 74 shares during the period. 85.71% of the stock is currently owned by institutional investors and hedge funds.
Barnes Group, Inc. (NYSE B) opened at 60.83 on Friday. The stock’s 50 day moving average price is $59.01 and its 200 day moving average price is $52.85. The company has a market capitalization of $3.27 billion, a PE ratio of 22.95 and a beta of 1.43. Barnes Group, Inc. has a 12-month low of $35.96 and a 12-month high of $62.37.
Barnes Group (NYSE:B) last announced its quarterly earnings data on Friday, April 28th. The industrial products company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The firm had revenue of $341.80 million for the quarter, compared to analyst estimates of $314.81 million. Barnes Group had a net margin of 11.30% and a return on equity of 12.49%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. On average, equities analysts anticipate that Barnes Group, Inc. will post $2.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, August 22nd. Barnes Group’s dividend payout ratio (DPR) is presently 21.13%.
Several research firms recently issued reports on B. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Barnes Group in a research report on Thursday, June 8th. Zacks Investment Research cut Barnes Group from a “buy” rating to a “hold” rating in a report on Friday, May 19th. ValuEngine raised Barnes Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Sidoti cut Barnes Group from a “buy” rating to a “neutral” rating in a report on Monday, April 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $56.00.
In related news, Director Thomas O. Barnes sold 1,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $56.06, for a total transaction of $56,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher J. Stephens sold 13,600 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $54.88, for a total transaction of $746,368.00. The disclosure for this sale can be found here. Insiders have sold 28,250 shares of company stock worth $1,552,653 over the last three months. Corporate insiders own 8.50% of the company’s stock.
About Barnes Group
Barnes Group Inc is an industrial and aerospace manufacturer and service provider, serving a range of end markets and customers. The Company’s engineered products, industrial technologies, and solutions are used in applications that provide transportation, manufacturing, healthcare products and technology to the world.
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